Fintech innovation lab in Tel Aviv to focus on blockchain, IoT and biometrics

Intel Corporation has selected Tel Aviv to host its latest fintech innovation lab, according to a report by Finance Magnates.

The new Intel fintech innovation lab will focus on blockchain, Internet of Things (IoT) and biometrics applications and will be created with The Floor, a fintech hub located at the Tel Aviv Stock Exchange. The Floor has financial backing from Chinese venture capital fund Pando Group and partners including Banco Santander, HSBC, RBS and Intesa Sanpaolo.

Intel Israel’s manager of IoT Sharon Puterman-Zafrir said that the firm will both develop its own projects and look for opportunities of cooperation with the lab’s other participants. “Through this collaboration, Intel will be able to lead, alongside The Floor, the development of this field in Israel and to widen the influence of technology on the financial field, from the user to the cloud.”

“Intel brings a powerful multi-disciplinary approach that could help Israel become a global capital in the field of fintech,” added Gil Devora, The Floor’s co-founder.